As EOS breaks free, La Rose blasts B1 as misrepresentative, negligent, and fraudulent!

In a virtual event for select press outlets, EOS Network Foundation’s Yves La Rose, sought to carve a fresh start for EOS, away from Block.one (B1).


Credit: Bywire News, Canva
Credit: Bywire News, Canva
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LONDON (Bywire News) - Yves La Rose has launched a stinging attack on Block.one as he sought to turn the page onto a new chapter for EOS. Speaking at a virtual event, he attacked EOS’ former parent company for ‘failed commitments’, which had soured the market’s attitude to EOS. The question is, can he write a new chapter for EOS free from the weight of its burdensome history?

Block.one now B1

Once again, La Rose was frank about the situation EOS finds itself in. As things stand, he said, the blockchain that launched with such fanfare three years ago, ‘is a failure’. “When we look at EOS compared to other cryptos, especially by Satoshi levels, EOS has been a terrible investment,” he said.

Given the start EOS had, that sounds like a remarkable statement. In 2018, Block.one broke all records. The $4bn token sale, despite the lack of any product, raised eyebrows and captured headlines. Block.one, it seemed, was determined to build EOS into the kind of next generation blockchain that Ethereum could only dream of becoming.

However, the reality fell way short of the hype. Murmurs of discontent grew with big names such as Wikipedia co-founder Larry Sanger, accusing Block.one of launching a centralised project under the guise of decentralisation. (Although no one in the end would really accuse EOS of over centralisation). News that Block.one was facing lawsuits from the SEC over the sale of unlawful securities did little to help the situation.

Additionally, and well reportedly, there was the small issue of a billion dollars not being invested back into the community.

Commitments had been broken, trust had been lost and the community turned on Block.one. “At this point, it is the consensus of the majority of token holders that I speak to, inside and outside of EOS, that Block.one knowingly misrepresented their capabilities and this amounts to negligence and fraud,” he explained.

That attitude has weighed on EOS and continues to do so. “To the greater blockchain ecosystem, EOS is Block.one, Block.one is fraudulent; therefore, EOS is fraudulent,” he said. “The reality for those within the EOS ecosystem is that we also have reached consensus and agree with this assessment that they are fraudulent. Block.one were negligent and overstated their capabilities.

If EOS is to clean up its image, breaking away from the shadow of Block.one is crucial.

“This break is needed for a narrative and a branding shift to occur, so there is a clear delineation that EOS does not equal Block.one,” he continued. “If they truly cared, they should welcome this approach as the next optimal play that should be done. If this is a chess game, they should agree that this is the best move for all.”

In other words, if you love someone, let them go and La Rose already has his eyes on a post B1 world for EOS. The newly launched EOS Network Foundation is already making grants and generating vast excitement. It is bringing to EOS all the things that Block.one promised but failed to deliver.

The long-suffering community is feeling something it hasn’t for a long time – optimism.

As to whether everyone in the community and the wider blockchain ecosystem will be so convinced, time will tell. However, one thing is clear. With the ENF, La Rose is looking to write a new story and cut loose from what many see as the dead weight of Block.one.

 

(Writing by Tom Cropper, editing by Michael O’Sullivan)

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